What is the most common method of measuring flows of trade?
a. amount of physical items transported between countries
b. amount of manufactured items transported by truck
c. comparing annual amounts of goods and services exchanged between countries
d. comparing exports of goods, services, and financial capital between countries
d. comparing exports of goods, services, and financial capital between countries
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Refer to Table 7.1. Output is increasing at
A) a diminishing rate. B) an increasing rate. C) a constant rate. D) a negative rate.
OSHA has improved worker safety
Indicate whether the statement is true or false
Vertical contracts between manufacturers and retailers often aim to
a. Incentivize the manufacturers to undertake costly activities, which they otherwise may not realize the full benefits of on their own b. Reward the manufacturers for undertaking the risk inherent in introducing a new product c. Serve as a "signal" of the manufacturer's belief of the likely success of his product d. All of the above
Suppose a manager is deciding how to allocate workers between two plants. The marginal product of labor in plant 1 is 10 units of output. The marginal product of labor in plant 2 is 14 units of labor. What should the manager do?
A. Reallocate workers from plant 1 to plant 2, because MPL is greater in plant 1 than in plant 2. B. Reallocate workers from plant 1 to plant 2, because MPL is greater in plant 2 than in plant 1. C. Reallocate workers from plant 2 to plant 1, because MPL is greater in plant 1 than in plant 2. D. Reallocate workers from plant 2 to plant 1, because MPL is greater in plant 1 than in plant 1.